Pensions: When are up to 15,000 euros retroactive – Who are the beneficiaries – Newsbomb – News

At the end of April, 14,000 pensioners will receive retroactive payments of up to 15,000 euros. As stated by the Minister of Labor Domna Michaelidou “from pension recalculations in various groups, EFKA, already in the last month, retroactively gives to thousands of pensioners. For example, two weeks ago he gave 15 million to 1,100 pensioners of ISAP and 30 million to 6,500 pensioners of Olympiaki.

In particular, the increases and retrospectives from the recalculation of pensions will be paid to approximately 2,000 beneficiaries Legal Entities of Public Law and with the May pensions, the increases will be paid retroactively to approximately 12,000 former bank employees. And in this group the amounts that will be paid according to estimates reach 15,000 euros and in some cases even 50,000 euros. The amounts of these retroactives are before withholding tax of 20%, the healthcare levy of 6%, but also any solidarity levy.

Pensioners who retired with 36-40 years of insurance will receive more retroactively, as they are favored by the improved replacement rates of the Vroutsis law. These recalculations are valid from October 1, 2019 onwards. That is, those expecting increases from the recalculation will get them retroactively over four years, 54 months to April (October 2019 – April 2024).

The recalculations of the new pensions are made to those who left with 30 years of insurance and more from 13/5/2016 until 30/9/2019, while for the older pensions they concern those who left with more than 30 years until 12/5/ 2016.

The difference is that the new pensioners get the increase resulting from the recalculation of the pension, while the old ones will get an increase if the new recalculated pension turns out to be higher than the pension obtained by the first recalculation made with the Katrougalos law.

Examples:

Retired from NGE before 2016 with 38 years of insurance he received a pension of 2,520 euros, while after the cuts his main pension amounted to 1,805 euros. With the recalculation of pensionable earnings and the increase in the replacement rate, the insured person in question will receive a main pension of 2,012 euros with a monthly increase of 207 euros. His retroactives will amount to 13,248 euros gross and approximately 8,762.49 euros net.

NPDD pensioner with common provisions with 35 years of insurance he received a nominal pension of 1,756.6 euros before 2016, while after the cuts he receives 1,214 euros. With the recalculation of the pensionable earnings and the addition of the reinsurance premium and thereby the increase in the replacement rate, the said insured will receive 1,341 euros with the monthly increase being 127 euros. Her retroactives will amount to 8,128 euros gross and approximately 5,867.76 euros net.

New payments

At the same time, new payments are being prepared to pensioners who for various reasons were left out of the recalculation. Such are particularly difficult cases such as those of pensions with parallel insurance, as in some funds there is no accurate data on insurance periods and therefore recalculations are delayed because each case is investigated individually. In this category belong retired doctors of the National Social Security, court clerks, engineers who worked in the State and judges, retired employees of legal entities under public law, where the recalculation will lead to an increase in their compensatory pension due to the reinsurance premium they paid, as well as retirees coming from former DEKO, where the recalculation has not been completed, according to the additional contributions they have paid.

Even more difficult are the recalculations pending for widow’s pensions from parallel insurance, as in these cases no notices are issued by some agencies, nor information showing widows how the amount they receive from the deceased spouse’s pension was calculated.

The pending recalculations also include pensioners from the IKA, OAEE or the State who have not received the increases they are entitled to from the improved replacement rates after 30 years of insurance. These are pensioners with consecutive and parallel insurance as well as pensioners who worked and continue to work after retirement.